Markets

UK government prop up housing market with £2bn fund to buy unsold homes - Livesquawk

Livesquawk picking up on an exclusive from Propertyweek.com

  • Government will use £2bn fund to buy homes that developers cannot sell

  • Will aim to speed up housing delivery and reduce construction risk

The fund comes as part of the Chancellors £5bn housing and construction fund initiative announced at the party conference. From that £2bn was to be allotted to making public land available with planning permission to home builders, and £3bn to provide loans for new building projects. This £2bn will be used as a way to guarantee that properties built are sold by developers.

There's more here.

I'm sure there's further details to emerge from this but I'm sceptical about measures to prop up one market, and one that can be so bubbly like housing. Plus, I don't think I even want to know where they'll be getting the money from to do it.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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